Wall Street Zen Downgrades Steven Madden (NASDAQ:SHOO) to Buy

Key Points

• Wall Street Zen downgraded Steven Madden from “strong buy” to “buy,” while the broader analyst consensus remains “hold” with an average price target of $49.75.
• Steven Madden exceeded quarterly expectations, reporting $0.44 EPS versus $0.33 expected and revenue of $665.87 million versus $635.39 million expected; revenue rose 19.1% year over year.
• The stock opened at $44.24, with a 52-week range of $28.55 to $49.70, while insiders sold 14,708 shares worth approximately $691,304 over the past 90 days.

Steven Madden (NASDAQ:SHOO - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Saturday.

Several other brokerages have also issued reports on SHOO. BTIG Research restated a "buy" rating and set a $50.00 price target on shares of Steven Madden in a research note on Monday, July 27th. Weiss Ratings reiterated a "hold (c)" rating on shares of Steven Madden in a research note on Friday, July 17th. Williams Trading set a $56.00 price objective on Steven Madden in a report on Monday, August 3rd. Needham & Company LLC raised their target price on Steven Madden from $45.00 to $52.00 and gave the stock a "buy" rating in a research report on Friday, June 12th. Finally, Piper Sandler set a $55.00 target price on Steven Madden and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $49.75.

Steven Madden Price Performance

SHOO opened at $44.24 on Friday. The firm has a market cap of $3.24 billion, a P/E ratio of 22.23 and a beta of 1.14. The firm has a 50-day moving average of $44.27 and a 200 day moving average of $40.43. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.13 and a current ratio of 1.91. Steven Madden has a fifty-two week low of $28.55 and a fifty-two week high of $49.70.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The textile maker reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. The business had revenue of $665.87 million during the quarter, compared to the consensus estimate of $635.39 million. Steven Madden had a net margin of 5.23% and a return on equity of 13.85%. The firm's quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 earnings per share. Steven Madden has set its FY 2026 guidance at 2.050-2.150 EPS. On average, research analysts expect that Steven Madden will post 2.15 EPS for the current year.

Insider Buying and Selling at Steven Madden

In other news, Director Al Ferrara sold 3,918 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $48.26, for a total value of $189,082.68. Following the sale, the director owned 26,197 shares of the company's stock, valued at $1,264,267.22. The trade was a 13.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mitchell S. Klipper sold 3,918 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $48.54, for a total transaction of $190,179.72. Following the sale, the director owned 32,555 shares in the company, valued at $1,580,219.70. The trade was a 10.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 14,708 shares of company stock worth $691,304. 2.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Steven Madden

Several institutional investors have recently made changes to their positions in SHOO. EverSource Wealth Advisors LLC boosted its holdings in shares of Steven Madden by 86.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker's stock worth $25,000 after acquiring an additional 485 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Steven Madden during the 4th quarter valued at $30,000. Global Retirement Partners LLC raised its stake in shares of Steven Madden by 1,064.3% during the 4th quarter. Global Retirement Partners LLC now owns 815 shares of the textile maker's stock valued at $34,000 after purchasing an additional 745 shares during the period. Farther Finance Advisors LLC lifted its holdings in Steven Madden by 79.4% during the 4th quarter. Farther Finance Advisors LLC now owns 983 shares of the textile maker's stock worth $41,000 after purchasing an additional 435 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in Steven Madden during the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 99.88% of the company's stock.

About Steven Madden

Steven Madden, Inc NASDAQ: SHOO is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company's product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source